120,410 Shares in Credo Technology Group Holding Ltd (NASDAQ:CRDO) Bought by Berkshire Capital Holdings Inc.

Berkshire Capital Holdings Inc. bought a new position in shares of Credo Technology Group Holding Ltd (NASDAQ:CRDO) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund bought 120,410 shares of the company’s stock, valued at approximately $8,093,000. Credo Technology Group makes up about 2.9% of Berkshire Capital Holdings Inc.’s investment portfolio, making the stock its 21st biggest position. Berkshire Capital Holdings Inc. owned 0.07% of Credo Technology Group at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Teacher Retirement System of Texas purchased a new stake in Credo Technology Group during the 4th quarter worth about $417,000. Harvest Fund Management Co. Ltd purchased a new stake in Credo Technology Group during the 4th quarter worth about $2,020,000. Xponance Inc. lifted its holdings in Credo Technology Group by 21.2% during the 4th quarter. Xponance Inc. now owns 10,228 shares of the company’s stock worth $687,000 after buying an additional 1,786 shares during the last quarter. Intech Investment Management LLC lifted its holdings in Credo Technology Group by 11.7% during the 4th quarter. Intech Investment Management LLC now owns 47,556 shares of the company’s stock worth $3,196,000 after buying an additional 4,997 shares during the last quarter. Finally, Cibc World Markets Corp purchased a new stake in Credo Technology Group during the 4th quarter worth about $881,000. 80.46% of the stock is owned by hedge funds and other institutional investors.

Credo Technology Group Stock Up 6.1 %

Shares of CRDO stock opened at $46.77 on Thursday. The stock has a market capitalization of $7.94 billion, a PE ratio of -311.80 and a beta of 2.16. Credo Technology Group Holding Ltd has a 52-week low of $16.82 and a 52-week high of $86.69. The stock’s 50-day moving average price is $64.49 and its 200 day moving average price is $52.88.

Insider Activity at Credo Technology Group

In related news, Director Pantas Sutardja sold 21,041 shares of the business’s stock in a transaction dated Friday, December 20th. The stock was sold at an average price of $68.19, for a total value of $1,434,785.79. Following the transaction, the director now owns 5,904,277 shares in the company, valued at $402,612,648.63. The trade was a 0.36 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CTO Chi Fung Cheng sold 55,000 shares of the business’s stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $68.04, for a total value of $3,742,200.00. Following the completion of the transaction, the chief technology officer now owns 8,508,602 shares in the company, valued at $578,925,280.08. This trade represents a 0.64 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,241,706 shares of company stock worth $85,031,428 in the last quarter. Company insiders own 16.04% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on CRDO. TD Cowen lifted their price target on Credo Technology Group from $45.00 to $75.00 and gave the stock a “buy” rating in a report on Tuesday, December 3rd. Stifel Nicolaus boosted their target price on Credo Technology Group from $75.00 to $80.00 and gave the company a “buy” rating in a report on Monday, January 6th. Mizuho boosted their target price on Credo Technology Group from $70.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, January 10th. Craig Hallum boosted their target price on Credo Technology Group from $38.00 to $75.00 and gave the company a “buy” rating in a report on Tuesday, December 3rd. Finally, The Goldman Sachs Group boosted their target price on Credo Technology Group from $65.00 to $84.00 and gave the company a “buy” rating in a report on Friday, January 10th. Nine research analysts have rated the stock with a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Buy” and an average target price of $74.90.

About Credo Technology Group

Credo Technology Group Holding Ltd provides various high-speed connectivity Credo Technology Group Holding Ltd provides various high-speed connectivity solutions for optical and electrical Ethernet applications in the United States, Taiwan, Mainland China, Hong Kong, and internationally. Its products include HiWire active electrical cables, optical digital signal processors, low-power line card PHY, serializer/deserializer (SerDes) chiplets, and SerDes IP, as well as integrated circuits, active electrical cables.